Gene-Chain Update, August 2, 2017

We’ve been sorting things out since our very successful token sale. It has put us in a fine position for growth. We currently are facing still two major transoms we need to cross: 1) getting the token listed on an exchange, and 2) selling our first beta-deployment. We are working non-stop on both, however. We are currently in process with several exchanges, working with their teams to help integrate the Multichain coin we have made with existing exchanges. This is a minor technical detail, but is new for most exchanges, none of which have yet listed Multichain coins. Multichain is built on Bitcoin Core, however, and in theory all the exchanges need to do is run a node of Multichain on their servers. We are at various stages of working that out with the several exchanges we are engaged with. As a worst-case scenario, coins holders will recognize the elements of an exchange functionality in their wallets, which we could, if necessary, adapt to form the basis of our own BTC-DNA exchange using off-the-shelf tools already available in Multichain.

As for selling our first node, we are inching closer all the time. The standard sales-cycle for engagements of this magnitude is 6-12 months of nurturing a sale. We are still hopeful and encouraged by developments with the current potential customers in the pipeline and expect to beat that timeframe and make a sale shortly. We are also bringing new potential customers into the pipeline through networking and cold-calling.

We are expanding our international footprint as well. Currently we are negotiating a partnership that will give us a legal presence in Switzerland, and embarking on similar talks for a Japanese and Mexican/Latin-American presence. We are talking to potential sales-reps and expect to add at least one more developer to the team shortly.

We will of course shout the news to the world once any of these breakthroughs materialize. Tomorrow, Thursday August 3, at 1pm, EST, I will be live on our Facebook page for a quick Q&A session. Hope to see you there.